{"id":3695,"date":"2025-08-25T18:49:07","date_gmt":"2025-08-25T18:49:07","guid":{"rendered":"https:\/\/www.macalester.edu\/160-business-services\/?page_id=3695"},"modified":"2025-08-25T18:49:07","modified_gmt":"2025-08-25T18:49:07","slug":"financefoundationslesson1","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/business-services\/financefoundationslesson1\/","title":{"rendered":"Finance Foundations &#8211; Lesson 1"},"content":{"rendered":"<h2 class=\"wp-block-heading\"><strong>Finance Basics<\/strong><\/h2>\n\n\n\n<p><strong>In this lesson you will learn:&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Spending and Receiving at Macalester<\/li>\n\n\n\n<li>Tracking Expenditures and Revenue<\/li>\n\n\n\n<li>What is a FOAPAL?<\/li>\n\n\n\n<li>Finance Approvals<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p><a class=\"more\" href=\"https:\/\/docs.google.com\/presentation\/d\/e\/2PACX-1vR2WuWS9CuJFOGMz54Ia_4X7C4H7y4pZAQnXwzZC4vfdCLptTIoqGO3Lp6NrURojTs9mVRGZTLTewLp\/pub?start=true&amp;loop=false&amp;delayms=1000\">Overview: Spending and Receiving at Macalester (Google Slides)<\/a>&nbsp; &nbsp;(under construction)<\/p>\n\n\n\n<p>A FOAPAL is a combination of numeric elements of categorizing Macalester&#8217;s various financial transactions to track spending and revenue. Each letter in the acronym represents a different category.<\/p>\n\n\n\n<p><strong>F<\/strong>und &#8211; <strong>O<\/strong>rganization &#8211; <strong>A<\/strong>ccount &#8211; <strong>P<\/strong>rogram &#8211; <strong>A<\/strong>ctivity &#8211; <strong>L<\/strong>ocation<\/p>\n\n\n\n<p>FFFFFF-OOOOOO-AAAAAA-PP-AAAA-LLLL,&nbsp; for more detail on each element of the FOAPAL, see <a href=\"https:\/\/www.macalester.edu\/business-services\/faq\/#FOAPAL\">What is a FOAPAL?<\/a><\/p>\n\n\n\n<p><a class=\"more-long\" href=\"https:\/\/docs.google.com\/document\/d\/1to-zXepy6tbpJlKE8iZs2LmDor43oP8OO8eIQrf9ny4\/view\">Finance&nbsp;<strong>Expense<\/strong> Account Code Descriptions (gDoc)<\/a>&nbsp; Choose an Account code from this list to complete the <strong>AAAAAA<\/strong> if you have an EXPENSE to code.<\/p>\n\n\n\n<p><a class=\"more-long\" href=\"https:\/\/docs.google.com\/document\/d\/1Plk7EMRkS4J6CY3PrK9keGQ34qwjVYAEnEP0JhDtT6o\/view\">Finance <strong>Revenue<\/strong> Account Code Descriptions (gDoc)<\/a>&nbsp; Choose an Account code from this list to complete the <strong>AAAAAA<\/strong> if you have REVENUE to code.<\/p>\n\n\n\n<p><a class=\"more-long\" href=\"https:\/\/docs.google.com\/spreadsheets\/d\/1qM3R13gTsm7CCzGL-1z2OS7GxOLjQof4_vFtNrn5fb0\/view\">Commonly Used Account Codes (gDoc)<\/a><\/p>\n\n\n\n<p><a class=\"more\" href=\"https:\/\/www.macalester.edu\/business-services\/activitycodes\/\">Activity Codes<\/a><\/p>\n\n\n\n<p><a class=\"more\" href=\"https:\/\/www.macalester.edu\/business-services\/financeapprovals\/\">Macalester Finance Approvals Explained<\/a><\/p>\n\n\n\n<p><a class=\"more\" href=\"https:\/\/www.macalester.edu\/business-services\/bsterms\/\">Business Services Terms<\/a><\/p>\n\n\n\n<p>Guide to Document Codes, FOAPAL Syntax, Fiscal Periods and general account categories can be found at <a class=\"more-long\" href=\"https:\/\/docs.google.com\/document\/d\/1RAasgofs0gNSYkVwWQksrkqeMTmE3EKWqyF57O6ujcs\/view\">Accounting Guide (gDoc)<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\" \/>\n\n\n\n<p>Go to <a class=\"more\" href=\"https:\/\/www.macalester.edu\/business-services\/financefoundations\/\">Finance Foundations at Macalester<\/a> to find additional lessons.<\/p>","protected":false},"excerpt":{"rendered":"<p>Finance Basics In this lesson you will learn:&nbsp; Overview: Spending and Receiving at Macalester (Google Slides)&nbsp; &nbsp;(under construction) A FOAPAL is a combination of numeric elements of categorizing Macalester&#8217;s various financial transactions to track spending and revenue. Each letter in the acronym represents a different category. Fund &#8211; Organization &#8211; Account &#8211; Program &#8211; Activity [&hellip;]<\/p>","protected":false},"author":44,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-3695","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/3695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/comments?post=3695"}],"version-history":[{"count":21,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/3695\/revisions"}],"predecessor-version":[{"id":8611,"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/pages\/3695\/revisions\/8611"}],"wp:attachment":[{"href":"https:\/\/www.macalester.edu\/business-services\/wp-json\/wp\/v2\/media?parent=3695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}